Public invited to provide input on ICBC insurance rate design

Public invited to provide input on ICBC insurance rate design
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Attorney General David Eby announces changes to ICBC on Feb. 6, 2018. File photo.

Attorney General David Eby announces changes to ICBC on Feb. 6, 2018. File photo.

The province is giving drivers the power to help design an auto insurance rating system for B.C.

Public engagement is open until Apr. 5 to provide feedback on how to determine basic insurance premiums, giving more discounts to low-risk drivers and balance insurance to reflect an increased risk of driver behaviour and location.

In a public engagement launch video, Attorney General David Eby said car insurance rates in the province are not fair.

“Low-risk drivers with perfect records are paying more than they should. Meanwhile, high-risk drivers who are driving costs up for everyone aren’t paying enough.”

Eby says ICBC is on pace to lose $1.3 billion this year.

The government announced changes last month to reduce costs through claims by $1 billion annually, including a cap on minor injury claims at $5,500 starting on April 1, 2019.

On March 1, ICBC’s Driver Risk Premium program (DRP) increased penalties for drivers using electronic devices while driving.

Two distracted driving convictions over a three-year period could see offenders pay as much as $2,000 in penalties on top of regular insurance premiums.

“We are committed to reducing high-risk behaviours that put people in danger,” Eby said in a release.

“This increased premium cost puts distracted driving on par with impaired driving and excessive speeding. We need distracted drivers to put down their phones and drive.”

Andy NealAndy Neal

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